This is what I hear all the time from people who need money fast-"I need a loan", "I need a loan", "I need cash now", "I need cash now", "it doesn't matter where it comes from". If you find yourself singing a similar song then you must be aware that you may be in the market for a cash loan and not even know it. Cash loans, otherwise known as payday loans, can provide you with the cash you need almost immediately if you can supply the lender with all of their requirements. The catch is that you'll have to pay for your money in terms of exorbitant interest rates and fees, and these kinds of finance charges aren't even in the same ballpark as other kinds of personal loans.

We're talking ridiculous rates here folks, somewhere in the neighborhood of two hundred and fifty up to seven hundred and fifty percent per year. These are the standard rates you'll have to pay for your money at most payday loan lenders, and this doesn't even account for the kinds of fees you'll have to pay. Most cash loans also come with finance charges that can run anywhere from fifteen to thirty dollars for every hundred dollars you take out with your loan. These finance charges along with the interest rates you'll be charged will make these kinds of loans very expensive, and many times you'll be charged more than the amount you take out with your loan in terms of interest and fees.

This is the reality of the situation if you are thinking about getting a payday loan, and you must be careful not to get into trouble if you are thinking about applying for such a loan. You should be asking yourself whether you really need the cash that bad, or whether you can hold off until your next payday to get your money. Sometimes it is better to just wait because these are the kinds of loans that can really come up and bite you if you don't pay them off right away, and they have been known to cause people to file for bankruptcy so in the end you might want to think twice about taking out these types of cash loans.